Exam 5: Entrepreneurs and Small Businesses

Since Ben opened his own computer repair business, he has had to take a lot of time off to care for his mother who has been seriously ill. In his old job, he would not have been allowed to take so much time off. What advantage of owning a small business is BEST displayed by Ben's situation?

The majority of franchises operate within which industry?

The major advantage of borrowing money from friends or family to start a business is ________.

James lives near a university and observes that almost every student uses a cell phone. He decides to open a small shop offering repair services for cell phones. His shop is an instant success. James has satisfied an area of need called ________.

A(n)________ is a type of entrepreneur who prefers to keep his or her business small.

Which of the following statements is FALSE about the kind of workers that small businesses employ?

An entrepreneurial team is ________.

A system thinker is someone who focuses on the entire process of turning an idea into reality.

Of the following four reasons why new small businesses may fail, which is the MOST common?

If a business is at risk of failing because it has taken on too much debt, the root cause of such excess debt is MOST likely to be ________.

Small business owners can seek professional advice at no cost through ________.